The idea of schemes like In2Pay is to free you from carrying a wallet, allowing you to do everything with your cellphone. But this implementation, which requires carrying a cellphone case, is not much different from just taping your credit card to the back of your phone. (Or slipping it into a credit card-holding iPhone cover.)

I was thinking the same thing. Also:

It also requires a compatible card reader. What, the neighborhood restaurant doesn’t accept contactless payments? Sorry, there are only 100,000 merchants in the U.S. that have NFC payment readers, compared to millions that accept old-style credit cards.

I used to frequent Jack In The Box all the time, in this area they have the card reader things installed in the drive-thrus, and I happen to have an American Express card with one of these chips. I tried it once, just to see, it didn’t work. Subsequently Jack In The Box doesn’t even bother to use these card readers anymore. This is going to need more merchants before anybody cares to use it.